Influx of biosimilar set to see significant market growth

As more biologics drugs lose their patent protection, the influx of biosimilars is set to expand, offering cost-effective alternatives and significantly impacting their respective markets. This dynamic shift promises broader access to critical therapies, according to pharma analytics company GloblData.

GlobalData’s report, “ State of the Biopharmaceutical Industry 2024 Edition (Mid-Year Update),” highlights the impact of biosimilars and other developments in the pharmaceutical industry. For example, the Crohn’s disease (CD) market is expected to experience significantly slowed growth over the next decade due to biologic patent expiry and biosimilar erosion.​

According to GlobalData’s forecasts, sales of biosimilar will increase from 5.7% in 2022 to 18.3% in 2032 of the total sales throughout the eight major markets (8MM: the US, Canada, France, Germany, Spain, Italy, the UK, and Japan). This rise in market share translates to expansion from $0.5 billion to $2.8 billion in biosimilar sales.